Freeport McMoran (FCX) Message Board

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Gold/Mining/Energy : Freeport McMoran (FCX)

FCX 41.72

-1.1%

Oct 30 3:59 PM EDT

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To: Mad2 who wrote (81)	5/2/2002 6:49:05 PM
From: Lynn	of 141

Freeport-McMoRan Copper Combines Stock Into Single Class NEW ORLEANS -(Dow Jones)- Freeport-McMoRan Copper & Gold Inc.'s (FCX) shareholders approved the combination of its Class A and Class B common stock into a single class on a one-for-one basis. Each outstanding Class A common share will be converted into one Class B common share, the mining company said in a press release Thursday. The common stock will begin trading on a combined basis Monday on the New York Stock Exchange. "This combination will simplify our capital structure and avoid potential confusion about owning common shares in FCX for our existing and prospective shareholders," Freeport said. "The combination will enhance the trading liquidity of our common stock and generate administrative cost savings." The company's New York Stock Exchange-listed Class A shares were trading recently at $17.55, down 20 cents, or 1.1%. Class B shares of Freeport were trading recently at $17.57, down 25 cents, or 1.4%. -Jenny Park; Dow Jones Newswires; 201-938-5388 (This story was originally published by Dow Jones Newswires) Copyright (c) 2002 Dow Jones & Company, Inc. All Rights Reserved

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